ANALISIS DETERMINAN RETURN SAHAM PERUSAHAAN MANUFAKTUR YANG TERDAFTAR DI BEI

Abstract

This study aims to determine the effect of operating cash flow, investment, finansial and profit on stock returns of manufacturing companies listed on the Indonesia Stock Exchange for the 2016-2020 period. This study uses used data obtained through the company's financial statements. This research sample selection method used purposive sampling method, the sample of this study was 70 of 14 companies. Data analysis used descriptive statistical tests, classical hypothesis testing and multiple linear regression hypothesis testing. The results of multiple linear regression analysis show that based on the results of the t test or partial test, operating cash flow has a significant effect on stock returns. Sign with the test results. Each is 0.040, which is less than 0.05. And get support from signal theory. While the sig value is obtained for the investment cash flow variable. 0.686, the capital cash flow variable obtained a sig value. 0.740, the net income variable gets a sig value. 0.138 The significance values of the three variables are all greater than 0.05, indicating that the three variables have no significant effect on stock returns. Based on the results of the F test or sig results simultaneously. 0.174 greater than 0.05 indicates that the three variables operating cash flow, investment cash flow, capital cash flow and net income have no significant effect on stock returns simultaneously. And get support from signal theory. Based on the coefficient of determination test, the effect of these four variables on stock returns is only 9.2%, and the remaining 90.8% is influenced by other factors